Perth, Australia - White Cliff Minerals Ltd.
(ASX:WCN) is pleased to report that visible gold has been identified in bulk samples collected in December 2018.
- Visible gold identified in 62 of 65 concentrate samples panned from alluvial bulk samples
- Sampling covered a 450 metre long section of the Chanach river gravel terraces
- Samples submitted to laboratory for analysis - results expected late February
The Company undertook a bulk sampling program along a 450 metre section of the Chanach river alluvial terraces 1 kilometre downstream from the Aucu Gold deposit to assess the placer gold potential of the 16km long river system.
Visible gold was detected in 62 samples out of the 65 samples collected (Figures 1-8 in link below).
Two river sediment samples were also collected at the tenement boundary next to the existing alluvial mining operation occurring on the neighbouring lease. One of the two samples contained visible gold (Figure 9). The samples have been submitted to the laboratory for analysis with results expected in late February.
Bulk sampling was conducted using an excavator in preference to using drilling as it was more cost effective and provided a must larger sample that is statistically more representative of the gold distribution in the gravels.
Sampling was conducted 1km west of the Aucu gold deposit and covered an area 450 metres long and 90 metres wide (Figure xx). A Hyundai 30 tonne excavator completed 65 bulk samples consisting of 13 holes 5 metres depth extracting approximately 35 cubic metres from each hole.
Each metre in depth was sampled separately and assessed for alluvial gold, rock and clay particle size distribution.
30-60 kilogram sub-samples were collected and manually panned down to a concentrate.
The concentrates consist of heavy minerals including magnetite, iron sulphides, trace copper and gold. Gold occurs as discrete grains ranging from specks up to 2mm. The gold is generally sub angular indicating that it is close to the original hard rock source.
Assessment of the gold distribution highlighted a trend where the size of the gold particles decreased but gold particle abundance increased as the sampling moved westwards down the river. This is a common feature of alluvial gold deposits where the coarse (heavy) particles deposit first as the water slows down. Smaller and lighter gold particles are transported until as the water slows further and they also deposit on the river bed.
The samples have been submitted to the laboratory for analysis with results expected in late February.
Field exploration ceased in December due to heavy winter snows and sub-zero (minus 10-20 degree) temperatures.
Access to the Chanach valley will reopen in March 2019 once the main roads reopen.
The exploration license application discussed in previous releases is ready to be submitted. Recent changes to the mining legislation (Sept 2018) and the subsequent updating of mining regulations which is still underway has delayed the submission due to the State department of Geology and resources declining to accept any applications until the regulations are finalised.
The Company expects to re-commence exploration activity in March.
Project Background: Aucu Gold Deposit
The Aucu gold deposit currently contains an Inferred Gold Mineral Resource above a cut-off grade of 1 g/t gold of 2.95 Million tonnes grading 5.1 g/t gold for 484,000 ounces of contained gold. The new resource reported in May 2018 represented a 60% increase in contained gold over the previously reported April 2017 inferred gold resource.
The project also contains an Inferred Copper Mineral Resource of 17.2Mt at 0.36% copper containing 64,000 tonnes of copper.
The drilling defining these resources has tested less than 5% of the identified mineralised structures and is currently open in all directions. The exploration carried out in this announcement has identified substantial additional potential over a large area on the eastern side of the project with rock chip samples of outcropping shear zones, veins and skarn alteration carrying gold grades of up to 6.7 g/t gold and 7.8% copper. As yet, no exploration has been conducted to the south or to the west of the main porphyry system.
In addition to the hard rock potential, the Company has identified visible gold in the alluvial river gravels that extend 16 kilometres from west to east across the Aucu project area.
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About White Cliff Minerals Ltd:
White Cliff Minerals is a Gold, Copper, Cobalt, Nickel resources and mining company listed in Australia (ASX:WCN). The Company is focused on developing low cost high value mineral deposits that have near term cash flow potential.
Major projects include the Aucu gold deposit that contains 484,000 ounces of gold (3mt at 5.1 g/t) starting at surface and Chanach copper deposit that contains 64,000 tonnes of copper (17.2Mt at 0.37% copper). Both projects have substantial blue sky potential with drilling covering only 5% of the known structures. In Australia the company is developing the Coronation Dam cobalt–nickel deposit where a maiden resource will be announced in the late 2018.
White Cliff Minerals Ltd.
www.wcminerals.com.au firstname.lastname@example.org Todd Hibberd Managing Director +61 8 9321 2233